Heineken 9-month Profit, Beer Volume Rise
Dutch brewer Heineken N.V. (HKHHF.PK) reported Wednesday that its net profit for the nine months of 2019 was 1.667 billion euros, up from a restated 1.596 billion euros in the prior-year period.
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In its trading update, the company said its consolidated beer volume for the nine months increased 2.9 percent from last year to 180.3 million hl. Organically, beer volume grew 2.8 percent.
In the third quarter, beer volume grew 2.6 percent on a reported basis, and 2.3 percent organically, to 64.2 million hl. Volume growth benefited from double digit growth in Asia Pacific.
Heineken volume in the third quarter grew 7.4 percent. Key markets contributing with double digit growth included Brazil, South Africa, the UK, Nigeria, Romania and Germany.
Looking ahead, the company said it expects to grow fiscal 2019 operating profit organically around 4 percent.
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